POWERED BY MOMENTUM MEDIA
(Mar-2005): Transitioning retirees need access to super
One of the key planks of the Federal Government’s retirement incomes policy has gained the support of the Australian Institute of Superannuation Trustees (AIST).
The President of AIST, Susan Ryan said that her organisation agreed, in principle, with the Government’s proposal that workers transitioning to retirement, but still working, should have some access to their super savings.
AIST has responded to a Treasury draft of the regulations covering the new retirement incomes policy and has suggested that the Government simplify the proposed new rules to make the taxation benefits equal to other post-retirement income products.
Commenting on AIST's position, Ryan said that many people approaching retirement would like to continue working part-time but were often forced to retire so they could access their superannuation.
“We support new rules that would allow people to keep working part-time, while getting access to part of their super,” she said. Ryan said such arrangements would keep people in the workforce longer, thus helping the economy and improving their standard of living in full retirement.
AUTHOR
Mike Taylor
Recommended for you
APRA-regulated funds have reportedly raised concerns with the government over Division 296, as news of potential policy tweaks makes headlines.
The CEO of one of Australia’s largest super funds says his outfit has become an expert at rolling with regulatory punches, but warned government interference in investment decisions would be a disaster for members.
A private member’s bill to allow for the splitting of super balances between spouses was introduced to the Senate on Thursday.
With the latest print of GDP figures overshooting economist expectations, analysts have warned that the Reserve Bank of Australia (RBA) could face a difficult policy path ahead.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
